The copy from the site reads:
Shopping Bike is a folding bicycle that offers multiple functions and new ways to bring a green lifestyle to reality.I'd definitely take it out for a test ride and review.
In “Sport Mode,” Shopping Bike is a nimble bicycle for travelling with ease. The addition of a convenient storage container at the rear puts the bike into “On-the-go Mode.” Folding the bike achieves “Shopping Mode,” in which it functions as a trolley that can be pushed in front or pulled behind the user as they walk. Shopping Bike has been styled to complement city life and to be suitable for use by both sexes. It has been designed to integrate with multiple contexts, from the market to the shopping mall. The frame incorporates two L structures that have been joined such that sitting on the bike makes it more stable.
There are an incredible assortment of other design award winners at the Red Dot site. If you dig on good design then you'll probably really enjoy the site too.
And yes, Beautility is another new word I've invented. It will be added to the Fictionarium soon.
Beautility - the beauty of something that's really useful.